Holding of Seminar on Policy-based Financing in Russia

November 27, 1998

A seminar on policy-based financing in Russia will be held in Moscow on November 30 (Mon.) and December 1 (Tue.).
This seminar will be implemented as part of the promotion of the "Partnership for Reform (on a major expansion of intellectual and technical cooperation)", announced at the recent Japan-Russia summit meeting. The Government of Japan will dispatch three specialists from the Japan Development Bank, with the aim of transferring its experience, which played an important role in the post-war economic restoration process. The seminar is intended for those connected with the Russian government, the central bank and others.

Mr. Shunichiro Ushijima, Deputy Director-General, Economic Planning Bureau, Economic Planning Agency, who was dispatched as an economic consultant to the Ministry of Economy of Russia for one year from May last year, will accompany the group. Mr. Ushijima's final action on completing his mission was to submit to the then Economic Minister Yakov Moiseevich Urinson policy recommendations pointing out the usefulness of policy-based financing.

Since the idea of establishing a Russian development bank was included in the social economic stabilization measures announced by the Russian government and the central bank in November, the forthcoming seminar should be considered timely.